Paul Tucker, the Deputy Governor of Financial Stability at the Bank of
England, will leave Threadneedle Street, it was announced today.

Mr Tucker had been in the running for the top job at the Bank, only to lose
out to Mark Carney, the Canadian central banker, who will replace Sir Mervyn
King as Governor next month.

The exact date of his departure from the Bank will be confirmed in due course,
but it is likely to be in the autumn after Mr Tucker has provided support to
Mr Carney, through the first months of his term of office.